Axonic on Bloomberg TV: Unpacking the Debt Ceiling Saga

Jan 27, 2023 | In the News

Axonic Capital Director of Research Peter Cecchini recently appeared on Bloomberg TV to discuss the debt ceiling saga. During this interview, he expresses how he feels that “it’s unfortunate that the fiscal condition of our country is used by politicians in the way it is.” He also believes that the U.S. is spending too much, but that modern theory has made it acceptable in many schools of thought.

With increasing inflation, Cecchini says that politicians will be more hesitant to be wasteful, as no one wants to be responsible for a default. He estimates that the odds are low that the Treasury wouldn’t find a way to pay all its debts. Looking forward, Cecchini explains that he sees opportunities in structured credit with high single digit yields versus corporate credit or equities. “Collateralized cash flowing, structured credit is really the place to be right now,” he concludes.

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